RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2014-09-03 17:50:00

LARGEST MEXICAN DRILLER NEEDS MONEY

LARGEST MEXICAN DRILLER NEEDS MONEY

Grupo Diavaz -- a closely held company that works with Petroleos Mexicanos, Petroleo Brasileiro SA (PETR4) and China Petroleum & Chemical Corp. (386) in Mexican fields -- will hold talks with stock exchange officials in the coming weeks with a view of debuting in capital markets next year, Chairman Luis Vazquez Senties said in an interview.

"We're going to have to be prepared for a large increase in required financing," Vazquez, who founded the company with his brother, said Sept. 1 at his Mexico City offices. "The first possibility we are looking at is a public offering or a bond offering. We are analyzing which could be the better option to continue growth as the market opens."

As many as 12 energy companies are considering equity or debt sales as Mexico allows private competition in the industry for the first time in 76 years, Francisco Valle, director of promotion and issuers at exchange operator Bolsa Mexicana de Valores SAB, said Aug. 28. Mexico's last initial public offering was in June when Prologis Inc. raised $541 million.

Diavaz has met with Credit Suisse Group AG (CSGN), Goldman Sachs Group Inc. and Deustche Bank AG to discuss financing options, Vazquez said. The group also plans to hold discussions with Bolsa Chief Executive Officer Luis Tellez.

The government takeover of Oceanografia SA, the Ciudad del Carmen-based oil services provider that was accused of defrauding Citigroup Inc. for $400 million, has tarnished the oil services industry's reputation and temporarily hindered Diavaz's ability to obtain funding from banks, Vazquez said.

Exxon Mobil

The opening of Mexico's oil and natural gas industry has generated interest from 515 companies, Energy Minister Pedro Joaquin Coldwell said Aug. 22. The entrance of foreign producers probably will generate more than $50 billion in private investment by 2018, according to the Energy Ministry.

Diavaz, which offers oil services primarily to Pemex and gas production services to Brazil's state-run Petrobras in northern Mexico, has been in talks with Exxon Mobil Corp. (XOM) about potential partnerships in one or two of the 10 fields where Pemex is seeking so-called farm-outs or partners to increase production, Vazquez said.

"It caught our attention that Exxon Mobil would reach out to a company of our size," Vazquez said. "We met and they told us that they wanted to discuss areas where we could work together" tapping Diavaz's local knowledge, he said.

Diavaz produces about 14,000 barrels of oil a day at the Ebano field and plans to become an operator with exploration and production capabilities, Vazquez said.

bloomberg.com

Tags: MEXICO, OIL, DIAVAZ, PETROLEO, CHINA, EXXON,
Chronicle:
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 26, 13:04:00
4-ЫЙ ЕЖЕГОДНЫЙ МЕЖДУНАРОДНЫЙ САММИТ И ВЫСТАВКА: ЭНЕРГИЯ БАЛКАН
Более 250 глав министерств, ключевых инвесторов, руководителей ведущих гидроэлектростанций и инициаторов инвестиционных проектов соберутся на 4-ом ежегодном международном саммите и выставке: Энергия Балкан
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 26, 13:03:00
МЕЖДУНАРОДНАЯ КОНФЕРЕНЦИЯ И ВЫСТАВКА "УГОЛЬ РОССИЯ И СНГ"
Лидеры угольной индустрии России и стран СНГ выступят с докладами в деловой программе Международной конференции и выставки «Уголь Россия и СНГ» (16-17 ноября, Москва).
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 26, 13:02:00
LEARN THE LATEST GLOBAL LNG TRENDS WITH LNGCON 2022
The next edition of the International LNG Congress (LNGCON 2022) takes place in Dusseldorf, Germany on March 28-30, 2022. Covering the whole LNG value chain, the Congress brings together decision makers of the industry to tackle the most relevant issues such as the role of LNG in the transition towards zero-carbon shipping.
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 26, 13:00:00
CHINA ZERO EMISSIONS 2060
As of end-2020, China had nearly 282 GW of installed wind capacity, and over 253 GW of solar capacity.
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 26, 12:55:00
AUSTRALIA ZERO EMISSIONS 2050
Australia's adoption of a net zero emissions target is significant as it is one of the largest producers and exporters of fossil fuels and falling in line with the UN mandated net zero pledge would signal there could be tighter regulations on emissions reduction.
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 25, 12:30:00
OIL PRICE: ABOVE $86
Brent increased 56 cents, or 0.7%, to $86.09 a barrel, WTI rose 62 cents, or 0.7%, to $84.38 a barrel.
LARGEST MEXICAN DRILLER NEEDS MONEY
2021, October, 25, 12:25:00
RUSSIA'S CLOSED NUCLEAR CYCLE
Known as ROSA-N, the new model was developed by scientists in Rosatom's Proryv (Breakthrough) project, which works towards deployment of fast reactors and a closed nuclear fuel cycle.
All Publications »